Corporate building up for sale, forge sold, old aftermarket building sold, stoneywood South and wellheads facilities to follow.
The 2014 crash impacted everyone, and most of our peers have recovered fairly well, yet even after years of ongoing retrenchment we appear to just be disappearing slowly by slowly.
How long before the company is taken over and the Dril quip name disappears forever?
Share price at market open tomorrow will be interesting.
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They screwed the blue collars.
Broke the foundation of the company.
If they weren’t paying other companies to do the work for us then we would have much higher output which would balance out the overhead. How is it cheaper, or “GREENER” to ship forgings half way across the world rather than make them on site? lies.
Where did it all go wrong. Relying on Lean and supply chain over maintaining a strong in-house capability. Supply chain has proven when the market picks up dates can’t be met, thus having to rely on in-house to meet dates. There’s the other problem they have stripped in-house capability to the bone between removing machines and not willing to invest in new people and decent remuneration packages. Any more cuts and in-house manufacture will be gone either thru poor management decisions (which is constantly ongoing, by one man) and losing staff.
Behind the times trying to manufacture in house with poor OTD.
Unable to execute basics.
High overhead compared to output, not sustainable =
if is true why engineering is king and keep getting highest compensation and promotion?
Legacy DQ was led by extremely competent individuals that had vision and were not afraid to take risks. In addition engineering and manufacturing were a core competence with a strong emphasis to make in house to control quality, cost and delivery. Sadly, current weak management and loss of core competence in engineering and manufacturing has led DQ to where they are currently. There will be no change or improvement until C suite is shown the door.
When walker got ousted was the beginning of the end.
We are at the end of a new beginning